School of Business Receives $500K Philanthropic Gift

The School of Business at the College of Charleston received a generous gift to advance its strategic plan of providing global learning, teaching and research opportunities for its students and faculty. The $500,000 gift is made possible through the Folkstone Limited Partnership, a Knox family holdings group managed by David A.R. Knox.

“This gift from the Folkstone Limited Partnership will help the College provide students with the international and interdisciplinary perspectives they’ll need to reach their fullest potential and meet the challenges of the global economy,” says P. George Benson, President of the College of Charleston. “We are so appreciative of the generosity of David and Susan Knox and their support of our vision for the College and its School of Business.”

The gift is appropriated into six key areas including School of Business study abroad scholarships, faculty development and international research, the Dean’s Excellence Fund, the College’s international program expansion in Europe and Asia, and an endowment to support long-term undergraduate business students in their pursuit of global learning experiences.

“My wife, Susan, and I are so impressed with the leadership of President Benson and Dean Shao, their vision for global education and what it will do for students and the business community, both locally and internationally,” says David A.R. Knox, managing partner of the Folkstone Limited Partnership, and parent of two current College of Charleston students. “We are happy to show our support through a structured gift that advances their educational agenda, provides more study abroad opportunities and fosters cross-boundary faculty research.”

“The U.S. has less than five percent of the world’s total population. As such, our students have a lot to learn and gain by understanding foreign markets and immersing into other cultures,” says Alan T. Shao, dean of the School of Business. “This donation enables us to send our students and faculty overseas and bring diverse thinking to our classrooms. This is good for our students and for Charleston.”

By the late spring 2012, the School of Business expects to launch the Knox Scholars Program and begin awarding scholarships to undergraduate students for their study abroad trips. The cost of study abroad, overseas internships and academic research is often prohibitive for students and faculty. “The scholarship funding really enables more students to obtain the multi-cultural and business perspective that you can’t fully understand in a classroom,” says Dr. Rene Mueller, director of the School of Business’ Global Business Resource Center and International Business program.

In addition, a portion of the gift will go towards the MBA scholarship by offering aid to graduate students who are required to study abroad. Scholarship funds will be used to recruit top-notch international students to our MBA classroom.